I'm always misplacing the chuck key to my drill press. So I
fastened it to a retractable key chain that's attached to the column of the drill
press, see photo.

The key chain is held in place with an ordinary hose clamp. And it's connected
to the chuck key by means of a short dowel. A hole drilled in one end of the dowel
accepts the handle of the chuck key. (I used epoxy to hold it in place.)

After screwing
an eye hook in the opposite end, simply slip the eye screw onto the ring at the
end of the key chain.